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Trump threatens payback for United States companies that move overseas

President-elect Donald Trump tweeted Sunday that he'll impose a 35% tax on USA companies that move jobs or operations to other countries - after announcing a deal with Carrier to keep 1,000 manufacturing jobs in the United States. They wouldn't apply to foreign firms that ship goods to the U.S. "Tariffs are one thing", Wolfers tweeted. Carrier can pay workers in Mexico about the same per day as it pays in workers per hour.

Business

TOP NEWS Austria's Green Party Beats Far-Right Rival In Election

Sunday's vote was the country's second attempt to conduct the presidential runoff this year. In May, Van der Bellen, a former Green Party leader, defeated Hofer by little more than 30,000 votes in a tightly fought contest decided by mail-in ballots.

Business

Dawson says he voted for Selig for Hall

The Today's Game Era Committee held meetings today in Washington, D.C., site of Baseball's Winter Meetings. Selig received 15 out of 16 votes, while Piniella received seven votes. A protégé of Detroit owner John Fetzer, he became chairman of the owners' Player Relations Committee in the early 1980s and directed strategy at a time owners were found to have colluded against players during three off-seasons, leading teams to pay players a $280-million settlement.

Business

Donald Trump's gift to Carrier Corp

Trump turned his account to more serious matters of American business. It didn't take long to get to the stick: "but any business that leaves our country for another country, fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S, without retribution or effect, is WRONG!" Thus, a win-win: The company gets enriched while outsourcing as planned, and Trump gets to unleash another grandstanding barrage of tweets to ...

Business

Sarah Palin: Trump's Carrier deal is 'crony capitalism'

He has also promoted lower corporate tax rates as a means of keeping jobs in the U.S. In a posting on Twitter , he said there would be consequences like a 35% import tariff "for these companies wanting to sell their product, cars, A.C.

Business

Will Italy's political drama spawn a new eurozone crisis?

It's not just about Italy. "I was among them", he said. "The post that gets eliminated is mine". Still, he hinted at worries that Italy's Monte dei Paschi de Siena bank was one step closer to possible failure in the wake of Renzi's resignation.

Business

Palin slams Carrier deal as 'crony capitalism'

Trump tweets "there will be a tax on our soon to be strong border of 35 percent for these companies wanting to sell their product, cars, A.C. units, etc., back across the border". Tim Mathis works at Indianapolis's Rexnord , which also announced recently it will send almost 300 jobs to Mexico. I'm not an economic expert, but $7 million for 800 jobs seems like a really bad deal to me.

Business

Far-right candidate defeated in Austria's presidential poll

Partial results after the polls closed Sunday showed Van der Bellen with 53.3 percent of the vote and Hofer with 46.7 percent. Mr Hofer was gracious in defeat , congratulating the new president less than half an hour after the first exit polls were released.

Business

Trump picks Twitter fight with China

US President-elect Donald Trump fired a Twitter broadside at China on Sunday, accusing the Asian giant of currency manipulation and military expansionism in the South China Sea. After all, the Tsai administration had wanted to be discreet about the phone call with Trump. As of now Trump has welcomed the Chinese anger by talking to Taiwan's President Tsai Ing - Wen when she called to congratulate the US President Elect Trump.

Business

Recount to start Thursday; Stein request for hand tabulation denied

Kobylski said it's unlikely the recount will show a major change in election totals. University of MI computer scientist Alex Halderman, who said voting machines and optical scanners which count ballots are prone to errors and outside manipulation, told reporters that the recount will show "for sure" whether cyber attacks have occurred.

Business

Unemployment falls but that likely means a Fed rate hike

The data suggests the Federal Reserve is all but certain to raise interest rates later this month and may have to move rates at a faster pace and higher than markets now expect. Construction employment increased by 19,000 jobs last month after rising by 14,000 in October. The lower number, however, represented a higher unemployment rate (4.3 percent vs.

Business

Italy expected to retain key "broker" role on Brexit if Renzi quits

The proposed reforms have no relation to sovereign debt or economic policy, but with Renzi staking his premiership on the outcome of the vote it has become a flashpoint for financial markets. "If the "No" wins, Renzi will be definitely weakened". Italy is the eurozone's third-largest economy but most ordinary Italians, particularly those living in the south, still struggle to get by.

Business

OPEC Production Cut Sends Gas Prices Upward - for Now

The latest data on Russian output recorded a further increase to a post-Soviet high of 11.23mn bpd for November and Russia will use this figure as the basis for a cut of up to 0.3mn bpd agreed as part of the proposed OPEC deal with non-OPEC producers.

Business

Bank of England yields to vegan pressure over plastic fivers

Vegans were dealt a fresh blow today as the Bank of England confirmed that the new £10 notes, which come into circulation next year, will also contain animal fat . Central banks have been switching to polymer cash in recent years because the flexible material resists dirt and lasts longer than paper cash. Since then, over 65,000 people have signed an online petition asking for tallow to be removed from the notes.

Business

New stock link upgrades opening up of mainland's capital market

Ceremonies were held simultaneously today at Hong Kong and Shenzhen bourses via video link as Hong Kong Exchanges and Clearing Chairman Chow Chung-kong and Hong Kong Chief Executive Leung Chun-ying jointly beat a gong to mark the launch. On the Shanghai board, it's the reverse, she said. The market of A-shares, or mainland's local currency shares, has been characterized by frequent trading and high velocity, but a market driven by institutional investors would be more rational and less ...

Business

Unemployment at lowest rate since Great Recession, thanks to seasonal retail jobs

The November job growth was an improvement from October's downwardly revised 142,000 figure. Alas, wage growth still remains mostly flat, with average weekly earnings up only 2 percent (or thereabouts) over the preceding 12 months. Last week, the Commerce Department reported that the economy grew faster in the third quarter of the year than initially estimated. Retail sector payrolls, reflecting the move by Americans to purchasing goods online, fell 8,300, their second straight monthly ...

Business

Protest against the Adani Carmichael coalmine approval

The rail section approved this week will form part of the 389 kilometre heavy haul railway line from the mine in the Galilee Basin to the coal export Port of Abbot Point. It also involves dredging an area near the Great Barrier Reef Marine Park. The 45km open cut and underground coal mine in the Galilee Basin, including six open-cut pits and five underground mines, will be one of the biggest in the world and operate for up to 90 years.

Business

Paul Ryan: ObamaCare repeal will be first priority

One issue unites Republicans above all others: antipathy toward President Obama's signature health care law, the Affordable Care Act . And it outpaced overall economic growth in 2015, making health care an even larger share of the US economy.

Business

Trump Takes Twitter Aim at Companies Looking to Move Jobs Abroad

He then slammed another IN manufacturer, Rexnord, for moving 300 positions south of the border. He noted: "This is happening all over our country". President-elect Donald Trump wrote a series of tweets early Sunday morning in which he threatened "retribution" in the form of a 35 percent tariff on USA companies that move overseas.

Business

North Dakota pipeline protesters vow to stay despite victory

The Standing Rock Sioux Tribe say it is on land that belongs to them according to an 1851 treaty, and that construction will damage sacred sites and could contaminate their water. The group had said about 2,000 veterans were going to the camp, where several hundred people have for months protested the $3.8 billion pipeline, but it wasn't clear how many actually arrived.

Business

Suu Kyi must stop Rohingya 'genocide'

Suu Kyi insisted Friday that the government wants to make the relationship between ethnic Rakhine Buddhists and the Muslim minority "better", but accused the worldwide community of not adopting a constructive stance on the "highly sensitive and delicate" issue.

Business

Newspaper Disables Comments on Article About Mall of America's First Black Santa

Since then, The Huffington Post reports , he has volunteered as Santa "and it just took off", said Jefferson. " This is a long time coming ", Landon Luther told the Minneapolis Star-Tribune. The organizers of the Santa Experience , which offers photo sessions with Santa in the Mall of America in Bloomington, Minn ., during the holiday season, were hoping to diversify.

Business

Do you think New Yorkers should pay for Trump's security?

The security includes a New York Police Department detail at the president-elect's home on Fifth Avenue, Trump Tower. De Blasio claimed he would send a letter to President Obama on Monday asking for an increase in federal funds to compensate for security costs starting from November 8 through January, 20, inauguration day.

Business

Pacers rally to beat Clippers 111-102 for 2nd road win

Paul finished with 18 points and 11 assists, Griffin led the Clippers with 24 points and 16 rebounds, and Crawford scored 14 points off the bench, but the Clippers just didn't have enough on the defensive end to win Sunday. The visitors outscored Los Angeles 35-17 in the third for an 83-69 lead heading into the fourth. Pacers: They narrowly missed a season low in points in the first quarter, saved only by Aaron Brooks making three free throws for 17, one off their season low.

Business

Woman charged after video showing cat thrown from 3rd floor

The video also captured laughter as Lassiter allegedly threw the cat. The New Jersey Society for the Prevention of Cruelty to Animals has possession of the cat and is assessing its health. Rivera said the cat was found in a housing complex and several other stray cats were also in the area. It's been reported New Jersey Transit Police had previously issued a $10,000 arrest warrant for Lassiter over an alleged assault.

Business

Roseville Gas Prices Pushing Higher

Last week, crude oil prices reached their highest level since July 2015, AAA said, while wholesale gasoline prices rose 13 cents last week. The lowest average price was about $2.19 per gallon in the Detroit area, while the highest average was about $2.27 per gallon in the Jackson area.

Business

United States crude futures extend gains on production cut deal

Indonesia, the producer group's only East Asian member, said it would suspend its membership after rejoining only this year as it was not willing to comply with the output cuts sought. Higher oil prices will accelerate the rebound. "However, if prices spike above US$60, then the shale industry will return as a major player to rebalance prices".

Business

India's Cyrus Mistry defends his position in letter to six Tata firms

Mistry said his four-year chairmanship was "highly satisfying and rewarding", but reiterated the need to fix the "breakdowns" in governance. Tata Trusts is governed by about 20 trustees and chaired by Ratan Tata. "Despite the issues in, and concerns surrounding Air Asia India, the Tata Sons board, at its meeting held on November 17, 2016 (which I had not attended and sought leave of absence), appears to have unanimously approved the full investment of United States dollars 25 million, which ...

Business

North Carolina Gov. Pat McCrory concedes governor's race

Apparently in the Christmas spirit, North Carolina Republican Gov. North Carolina has lost a string of big investment ventures over Republican Governor Pat McCrory's decision to sign the contentious HB 2 - which voided all local ordinances protecting LGBT rights, banned transgender people from using their preferred bathroom, and permits businesses to discriminate against LGBT people on the grounds of religious belief.

Business

Now in Bangladesh, Rohingya describe rape, murder in Myanmar

Najib said the rally at a stadium in suburban Kuala Lumpur will send a strong message to Aung San Suu Kyi's government that "enough is enough". Also present at the gathering were Prime Minister Najib Razak and his deputy Ahmad Zahid Hamidi, Foreign Minister Anifah Aman, Umno and PAS leaders as well as 20,000 people, including ethnic Rohingyas residing in Malaysia.

Business

Big Mac creator dies at 98

The man who invented the McDonald's Big Mac burger has died , aged 98. Delligatti became one of McDonald's first franchisees after opening a restaurant in Uniontown, about 40 miles south of Pittsburgh , in 1957. Delligatti first served the oversized burger in 1967 at a McDonald's franchise in Uniontown. The company said it sold 550 million Big Macs in the USA alone in 2007, the last time the company reported that number.

Business

Trump on recount efforts: 'Just a Stein scam to raise money!'

President-elect Donald Trump on Sunday dismissed election recount efforts as a "scam" run by former Green Party presidential candidate Jill Stein. The logistics of a statewide recount are so great, "it's kind of like Eisenhower invading Europe on D-Day", attorney Gary Gordon, representing the Michigan Republican Party, told the judge.

Business

A Taylor Swift TV Channel Is Coming To A Screen Near You

Customers will be able to enjoy Fullscreen at no charge for one year along with eligible new and existing mobile plans with messaging service. AT&T is offering four separate packages for subscribers to choose from. Two days after its announcement, AT&T's new streaming service DirecTV Now has officially launched on the App Store and Google Play Store as a free download.

Business

Trump supporter Sarah Palin calls Carrier deal 'crony capitalism'

Others have said Trump is incentivizing other companies to play a game of offshoring chicken. He was insisting on very steep tariffs for companies like Carrier that left the United States and wanted to sell their foreign-made products back in the United States.

Business

Trump unloads on China in Twitter rant

Last week Mr Trump risked a diplomatic rift with China by speaking directly with Taiwan's president. This move infuriated Beijing because China considers Taiwan a part of "one China" and any formal diplomatic contact with Taipei by foreign nations is considered an affront to China's claim to the island.


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